Weekly Outlook

Click here for The Coming Week by TheStreet.com.

Click here for Stocks in Focus for Monday by MarketWatch.com.

There are several economic reports of note and some significant corporate earnings reports scheduled for release this week.

Economic reports for the week include:

Mon. – Consumer Credit

Tues. – Trade Balance, weekly retail sales

Wed. – Weekly MBA Mortgage Applications report, weekly EIA energy inventory report

Thur. – Initial Jobless Claims, Monthly Budget Statement

Fri. – Current Account Balance, Import Price Index, Advance Retail Sales, Industrial Production, Capacity Utilization, Univ. of Mich. Consumer Confidence, Business Inventories

Some of the more noteworthy companies that release quarterly earnings this week are:

Mon. – Take-Two(TTWO)

Tues. – None of note

Wed. – Aspen Technology(AZPN), Brady Corp.(BRC), JOS A Bank(JOSB)

Thur. – Diebold(DBD), Pall Corp.(PLL)

Fri. – Pier 1(PIR), Thor Industries(THO)

Other events that have market-moving potential this week include:

Mon. – Fed’s Lockhart speaking, Fed’s Yellen speaking, Fed’s Fisher speaking, Fed’s Mishkin speaking, Bear Stearns Healthcare Conference, Wachovia Global Transport/Packaging Conference, Oppenheimer Consumer Conference, Jeffries Media/Communications Conference, Morgan Stanley Industrials Conference, Lehman Brothers Financial Services Conference

Tue. – Fed’s Bernanke speaking, Wachovia Services Conference, Morgan Stanley Industrials Conference, Jefferies Media/Communications Conference, Lehman Brothers Financial Services Conference, Bear Stearns Healthcare Conference, (TXN) mid-quarter Conference Call, (DUK) analyst meeting, (ECL) analyst meeting, (SLE) analyst meeting, (EAT) investor day

Wed. – Lehman Brothers Financial Services Conference, CSFB Technology Summit, (TMA) mid-quarter update, (KMT) analyst meeting, (ILMN) analyst day, (BDK) analyst meeting

Thur. – None of note

Fri. – None of note

BOTTOM LINE: I expect US stocks to finish the week modestly higher on bargain-hunting, diminishing credit market fears, better economic data, lower energy prices, more dovish Fed commentary and short-covering. My trading indicators are giving neutral signals and the Portfolio is 75% net long heading into the week.